Lawmakers to insurers: Be fair

Friday

Nov 18, 2011 at 2:00 AM

Cape and Islands State Sen. Dan Wolf and Cape state representatives Demetrius Atsalis, Randy Hunt, Tim Madden, Sarah Peake and Cleon Turner have filed legislation to require insurance companies to be more transparent in their filings for rate increases.

Patriot Staff

Cape and Islands State Sen. Dan Wolf and Cape state representatives Demetrius Atsalis, Randy Hunt, Tim Madden, Sarah Peake and Cleon Turner have filed legislation to require insurance companies to be more transparent in their filings for rate increases.

“The Fair Plan needs to live up to its name,” Hunt declared in a joint press statement. “Without sufficient transparency in the calculations and underlying data, it is difficult to determine how fair the Fair Plan is.”

The statement notes that nearly half of the policies written by the Fair Plan in Massachusetts are for properties in the Cape & Islands. A 6.7 percent premium increase has been requested.